8 ways to niche market your business

In the fast-paced digital and social media world of 2018, there has never been a more exciting time to niche market your business, ensuring it is sustainable and successful now and into the future.

In a competitive market place, carving out a unique niche for your business is paramount in growing customers and elevating your brand. A niche business caters to a specific audience- differentiating yourself from the competition. It’s important for the growth of your business that you understand who your customers are and how your business, as a whole can better serve their needs.

Through this understanding, you are in a better position to redirect your efforts to a targeted audience, connecting with them on a personal level and delivering a service or product that resonates with them.

With this knowledge, you are also in a better position to tailor your marketing communications and channels to talk directly to them- driving better responses as well as being more cost effective.

Local marketing expert, Maria Anderson from Sustainable Marketing Services outlines 8 tips to niche market your business, allowing you to sow the seeds of success and ultimately reaping the benefits through sales and customer satisfaction.

1. Know your Niche

The very first point of call is to identify your niche and the point of difference of your business over your competitors. This will set yourself apart from the pack. Your power is getting in front of the right people and not about getting in front of the masses. By identifying your niche market and targeting them on a personal level- their needs and lifestyle requirements for example, you will build a strong, loyal customer base. Understanding your customers, puts you in a more influential position to better serve them and connect with them. Once you have established your niche, it is important to develop marketing communications that talk directly to customers, targeting this communication in channels they regularly hang out in. The more targeted the better the outcome.

2. The power of PR and good storytelling

Surrounded by water and a bay of islands, local businesses like Redlands Kayak Tours can have a competitive edge in the market, telling a compelling story around our beautiful lifestyle to kayaking enthusiasts and adventurers alike. Offering a unique eco-adventure, connecting with nature, the business is selling an experience of the great outdoors like no other in the region. Being an environmentally friendly activity and encouraging customers to be environmentally aware, sets them apart from the competition. Redlands Kayak Tours are ultimately selling a lifestyle and not just a service.

It’s important that you understand your niche market and that your content is carefully crafted to reflect their wants and aspirations. Through your content, you can become a thought-leader, showcasing your expertise, while gaining the trust of your customers. Thought-provoking content can capture a consumer’s attention and can hold their interest.

If you are targeting a niche business in a specific industry, conduct targeted public relations in an industry body magazine. This will enable you to talk directly to your niche audience – with a story that is relevant to them – and using words that are more meaningful to them.

For example, in March we achieved a one-page PR article in the Australian Automotive Aftermarket Association of Australia on “How to Use PR to Successfully Promote New Products”. The article talked to and used examples of our successes in the marketing of battery chargers.

3. Collaborate with other key players and network

Working together with other businesses who have a similar target market, can help spread awareness and give you exposure to a larger audience within your niche, as well as showcasing your expertise in your field. By collaborating with businesses that you are not directly competing with, gives customers a broader suite of services and products to access, while allowing you to leverage off another business’ clientele. An example could be a local veterinary practice working with a local dog groomer. Both businesses work in the same field, but offer different services that a customer can benefit from.

Also, look for industry networking events where you can meet and talk to your niche target markets. For example, if you are interested in working with engineers, network with peers at Engineers Australia. You can share a collective knowledge, understand industry trends and be seen as a trusted collaborator.

If you are targeting female entrepreneurs in the Redlands, consider attending The Redland City Chamber of Commerce’s Women in Business events. This forum brings together local female business owners, encouraging them to collaborate, network and build a strong foundation for success in the region.

4. Website content

An easy to navigate, interactive and modern website will help increase the profile of the business, but it’s also equally important that you write specialised website content for your niche audience. Understand what topics resonate with them and what they are interested in. With this understanding, you can then write blogs that will engage, educate and entertain, as well as using language that speaks directly to them. Some ideas for compelling content on your website, include a banner, a specialist webpage (to show you are an expert in your field) and blog posts that talk to topics that your niche market would be interested in.

For example, one of Sustainable Marketing Services’ niche markets is manufacturers and distributors of battery chargers. On our website we have:

• A web banner entitled “we specialise in auto aftermarket”
• A specialist webpage that talks to our unique capabilities in marketing of battery chargers
• A blog – how to use PR successfully to launch new products with examples of our successes in launching new battery charger products.

See our specialist marketing of automotive products webpage here as an example.

5. User-generated content

Want free advertising that connects with your targeted audience? Then creating user-generated content, does just that. Many businesses are turning to social media platforms like Facebook and Instagram to engage with their audience, delivering content that interests them, while at the same time, allowing the customer to take the driver seat and be part of the content creation. User-generated content sees your customers reaching out and voicing their satisfaction through your website, Facebook or even Instagram. Having a more open channel of communication with customers also enhances your ability to innovate, based on real time feedback.

6. Fully utilizing the power Facebook

Facebook has become a pivotal marketing tool that can build a strong online community, creating a conversation, while getting your messages and your business principals out to a wider audience. Facebook can be a place where your customers can share their passion for your service daily or weekly, as well as creating interest from potential new customers. But when creating a niche market for your business, you need to be much more selective about what you post. Facebook is an extremely powerful “niche advertising channel”. You can add your client list up to Facebook as a targeting list and then ask Facebook to create a similar list, giving you access to similar people, but a larger audience within the niche. You can target people by age, location or by their interests.

For example, Anderson Camera Repairs is the warranty agent for Nikon cameras in Queensland. Sustainable Marketing Services has been running a targeted Facebook advertisement for them to raise awareness of their brand and services amongst Nikon users. The advertisement has been very successful, reaching a very large number of Nikon owners. With stronger awareness, next month, we’ll run a promotional ad with a relevant offer to Nikon users (sensor clean), where we drive them to a special webpage on their website and encourage them to book in for a sensor clean via phone or via form.

7. Search Engine Marketing

Google promotions like Adwords, Display and Remarketing are very effective tools for niche businesses, using interest-based targeting.

Google AdWords can be a great way to drive leads. In a nutshell, when visitors click on a Google advertisement to your site see your targeted content, they are much more likely to respond to your website over competitors.

When creating a niche market for your business, you are not only connecting to an audience on a personal level but you can also create a dedicated, loyal team of supporters who push your business forward. Having this edge in the market place, gives you a step up from the competition

8. Google My Business Listing.

If your niche market is situated locally, like in the Redlands, make sure your Google Business Listing is up-to-date. Post links to any blogs you have written that talks to your specific niche audience and make sure you organise for existing niche customers to complete a Google Rating on your Google My Business Listing. The more good Google ratings you have, the higher up the listing you will appear, ahead of other Google My Business Listings. If you have customers in that niche that have given you a testimonial, your content is going to appeal to other potential customers in that niche.

Google My Business is a very powerful, free and easy-to-use tool for businesses in the Redlands, who are seeking local business. It allows businesses to tell the story of their business to a niche customer base, as well as helping customers within the local service area, find you.

In conclusion, when creating a niche market for your business, it’s important to understand your specialised audience, or consumer base. The better you know them, the easier it is to provide a targeted service just for them. Once you’ve got this clear understanding of your market, it’s then important to know how your service or product can fulfill a need that is not currently being met by another company in your industry. Ask yourself, what is your unique selling point and how are you taking care of your customers?

Sustainable Marketing Services have a proven track record helping to niche market businesses and organisations locally and across Australia, elevating the profile of their brands, generating leads and helping to retain existing customers.

For example, our client CTEK, targets 4WDers who like to go camping. With this in mind, we created a case study featuring “Brenno’s Ultimate Never-Fail 12V System”. We promoted it on 4WD blogs and Facebook pages, achieving 71,200 blog views.

Sustainable Marketing Services can develop marketing, public relations, digital marketing and social media tailored for your organisation.

Meet us for coffee, we're happy to share our knowledge and understand how we can niche market your business for success.

Contact us on 1300 699 085 or email us here for a complimentary meeting.